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Typically I don't have very defined EW counts, so I just ignore the
smaller counts, but occasionally one can have a clearer picture. Going
over my various index charts, I can't help to see the following
(However, don't assume any positions or recommendations from my part...
It is just my current road map after this fridays sell off):
I view current index markets (NAZ, DAX, CAC etc) as being in a wave 4
with a 5 to new highs to come in Q1 still...
The count is
- 1 (within a larger rise from the 98 lows, itself within a larger rise
from 94 lows etc...) starting at the August lows,
- 2 the sep oct correction
- 3 to the dec 31st / jan 3rd top
- 4 since with first jan week as A, mid Jan swing highs as B, currently
in C down.
Short term that means:
- we may drop further to complete C down on some news (Fed hike?) with
Nasdaq100 H0 staying over 3000
- or we keep going back forth to complete another D up and E down this
time on fear exhaustion. In that case, things should lighten up end of
Feb at the latest, with prices staying over 3250 or so.
We should have a rise over 4000 on the Nasdaq100 thereafter followed by
further series of 4s and 5s, maybe the whole year so. If that's the
case, it is going to be buy the dips every time... Same picture on the
European indices.
Just an exercise,
Gwenn
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